BELFAST, Ireland -- A lawsuit against the alleged conspirators of the deadly 1998 Omagh bombing in Northern Ireland seeks a record level of damages, observers say.

The high court in Belfast Monday opened the landmark $2.8 million civil case against five men the plaintiffs accuse of conspiring to commit the bombing that killed 29 people and injured more than 200.

The only man charged in the case, Sean Hoey, was acquitted of all charges by a Belfast Court in December. The five alleged members of a splinter group of the Irish Republican Army, the Real IRA -- Liam Campbell, Seamus Daly, Michael McKevitt, Seamus McKenna and Colm Murphy -- all deny involvement in the bombing.

The civil case reached the high court following 40 preliminary hearings and appeals.

Lawyers for the plaintiffs said if the case if successful, it will send a warning to other alleged terrorists that their assets could be liquidated if convicted of their crimes, the Irish Independent reported Tuesday.